Canadian Imperial Bank of Commerce (TSE:CM) PT Set at C$186.00 by Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods set CIBC’s price target at C$186 while maintaining a “market perform” rating, implying 15.45% potential upside from the previous close.
• Analyst sentiment remains broadly cautious: CIBC has a consensus “Hold” rating from 12 analysts, with an average price target of C$165.46, although several firms recently raised their targets.
• CIBC shares rose 0.8% to C$161.11 in Friday trading. The bank reported C$2.54 quarterly EPS, C$8.01 billion in revenue, a 15.24% return on equity and an 18.44% net margin.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM has been given a C$186.00 target price by equities researchers at Keefe, Bruyette & Woods in a report issued on Friday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 15.45% from the company's previous close.

A number of other research firms have also recently commented on CM. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$155.00 to C$157.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 16th. Barclays lifted their target price on shares of Canadian Imperial Bank of Commerce from C$144.00 to C$170.00 in a research note on Friday. National Bank Financial increased their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$180.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 13th. Raymond James Financial boosted their price objective on Canadian Imperial Bank of Commerce from C$155.50 to C$173.50 and gave the company a "market perform" rating in a research report on Wednesday, August 12th. Finally, TD increased their target price on Canadian Imperial Bank of Commerce from C$163.00 to C$175.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$165.46.

Canadian Imperial Bank of Commerce Trading Up 0.8%

Canadian Imperial Bank of Commerce stock traded up C$1.34 during trading on Friday, reaching C$161.11. The company had a trading volume of 516,201 shares, compared to its average volume of 2,511,593. The firm has a market capitalization of C$147.06 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 3.03 and a beta of 1.40. The firm's 50-day simple moving average is C$164.67 and its 200 day simple moving average is C$150.02. Canadian Imperial Bank of Commerce has a 52 week low of C$100.43 and a 52 week high of C$172.87.

Canadian Imperial Bank of Commerce (TSE:CM - Get Free Report) NYSE: CM last issued its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 EPS for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 15.24% and a net margin of 18.44%.The business had revenue of C$8.01 billion during the quarter. On average, analysts predict that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current year.

Insider Buying and Selling at Canadian Imperial Bank of Commerce

In other Canadian Imperial Bank of Commerce news, insider Christopher John Anderson sold 8,490 shares of Canadian Imperial Bank of Commerce stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of C$155.50, for a total value of C$1,320,195.00. Following the sale, the insider owned 6,252 shares of the company's stock, valued at C$972,186. The trade was a 57.59% decrease in their position. Also, insider Amy Florence South sold 1,200 shares of the company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$160.92, for a total transaction of C$193,104.00. Insiders sold 17,776 shares of company stock valued at $2,817,744 in the last 90 days. Insiders own 0.02% of the company's stock.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.

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